Penfolds Reset Amid Big Loss | Australia News

Treasury Wine Estates, makers of Penfolds, just reported a brutal $1.1 billion net loss — mostly from slashing the value of U.S. assets — but here’s the twist: their flagship brand is soaring, up 15.2% in earnings, fueled by strong demand in China, Asia, and Australia. CEO Sam Fischer admits it’s a painful reset, cutting the brand portfolio from 70 to 30, focusing on powerhouses like Penfolds and Daou, while fighting back against grey market chaos in China. Despite the dent in profits, stock ticked up, and leadership is betting this tough love will build a leaner, stronger future — especially as white wines gain traction. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/2191cdfaa466cc4d